India prepares to introduce new rules for regulating the crypto market
The details of the forthcoming laws were published by the Bloomberg portal
08.12.2021 - 09:15
392
1 min
0
What’s new? Bloomberg's website has published material on the new rules for regulating the cryptocurrency industry in India. The portal cites its own sources.
What awaits the Indian users? As previously stated, India has decided not to ban cryptocurrencies, but to develop regulatory measures towards them. The authorities' plans include transferring the cryptocurrency regulation to the main financial markets regulator, the Securities and Exchange Board of India (SEBI).
In doing so, all cryptocurrency users will be asked to declare their assets within a certain grace period. In violation of these requirements, criminal liability will be introduced with fines of up to 200 million rupees or imprisonment of up to 1,5 years. Another possible innovation is the establishment of a minimum threshold for entry into transactions in the crypto markets.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024